Changes announced in the Spring Budget 2021
At the Budget on 3 March 2021, the Chancellor announced that the Government would provide additional business rates support for eligible retail, hospitality, leisure and nursery businesses for the 2021/22 financial year.
The 100% expanded retail discount will continue for 3 months for the period 1 April 2021 to 30 June 2021. From 1 July 2021 to 31 March 2022, the expanded retail discount will continue to apply for eligible properties in the scheme, at a rate of 66%. Further details to follow once full guidance has been provided.
The Nursery discount of 100% will also be extended for the 3 months from 1 April 2021 to 30 June 2021. As of 1 July 2021 eligible properties in the scheme will continue to receive the discount at a rate of 66%. Further details to follow once full guidance has been provided.
For both the Expanded Retail Discount and the Nursery Discount, businesses may choose to opt out of support by notifying the local authority of their request to refuse the support. Please note once you have opted out you cannot change your mind.
A Restart Grant for both Non-essential retail businesses and businesses within the hospitality, accommodation, leisure, personal care and gym sectors was also announced during the budget. Full details will be available once the government has provided the full guidance and can be found on the council’s website under the Coronavirus (Covid19) – Information and Advice section.
Business rates public lavatories relief
The government will introduce 100% business rates relief for all public lavatories to help keep these important local amenities open.
Business rates local newspaper discount
The local newspaper discount is a reduction of £1,500 for office space occupied by local newspapers. During the 2020 Spring Budget, it was announced that this discount was extended for an additional 5 years up to 31 March 2025.